£50m COMMITTED TO INVESTMENT IN SMALL AND MEDIUM SCALE RENEWABLE PROJECTS IN THE UK
Today, Belltown Power and Alpha Real Renewables announce the formation of Belltown Alpha Renewables, a partnership formed to build, own and operate small and medium scale renewable energy sites in the UK. Over the next two years, the partnership will look to build up to 20 clusters of projects totalling 30MW of operating renewable energy assets. Belltown Alpha Renewables will focus on proven technologies including wind, solar PV, hydro and biomass. When constructed, Belltown Alpha Renewables assets will power up to 10,000 homes from renewable sources, offsetting over 23k tonnes of Co2 emissions.
Belltown Alpha Renewable’s focus on small and medium scale projects (typically below £10m investment size) allows the company to utilise utility scale equipment manufacturers and construction partners while focusing on projects that are too small for traditional infrastructure investors. The projects will be spread around the country and diversified in size and technology. Belltown Alpha Renewables anticipates funding 100 percent of the construction costs of projects without the use of any external financing.
Belltown Alpha Renewables brings together Belltown Power and Alpha Real Capital in a new partnership. Belltown Power was formed by Michael Kaplan formerly of Albion Ventures and Tom Hill-Norton, formerly of Guinness Asset Management and Andy Black, formerly of Garrad Hassan to bridge the gap between traditional fund investors and small scale renewable energy development companies. The company brings together renewable energy investment experience with unique operational capabilities in small and medium scale renewable energy.
“The UK is facing an energy shortage in the coming years and renewable energy will be an increasingly important part of the energy mix. No one technology is the solution and, just like the UK as a whole, we plan on building a diversified portfolio of generating assets,” said Belltown Power CEO, Michael Kaplan. We are incredibly excited to be partnering with Alpha Real Capital on the formation of this partnership. Alpha is an experienced investor and understands well the value that can be created by aggregating small and medium scale renewable energy projects under a well managed platform.”
Phillip Rose, CEO of Alpha Real Capital, said “Alpha has long thought renewable energy was an exciting area for our investors. The potential long-term real returns are attractive for our investors. We are excited about the team that Belltown has pulled together and believe they are capable of delivering valuable projects for our investors.”